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Rates Up. No Surprise.

The Bank of Canada has been telling us that rates are going to move. And now they have… officially. Ahead of the BoC’s July 12th announcement, Canada’s “Big Banks” nudged-up mortgage rates, adding 0.05% to 0.20% or in other words, increasing rates 5 to 20 basis points.

This increase is seen as a confirmation that our economy is getting stronger and not just sputtering along. This measure is a “bump” not a “jump.” And yes, we can expect to see some sensitivity in real estate markets as people get used to different rates.

By | 2017-08-10T19:14:09+00:00 August 10th, 2017|Categories: Comunity|Comments Off on Rates Up. No Surprise.